Pasang Masda seeks ₱1 provisional fare hike amid string of oil price increases

Transport group Pasang Masda is seeking a P1 provisional fare hike following successive increases in petroleum prices.

Speaking on Super Radyo dzBB, Pasang Masda president Obet Martin said the group has been lobbying the Land Transportation Franchising and Regulatory Board (LTFRB) for the adjustment since the term of former chairperson Teofilo Guadiz III.

“Iisa ang damdamin ng ating mga nasa hanay ng jeepney, talagang nabibigatan na kami,” Martin said Tuesday.

(All those in the jeepney sector are being burdened with the oil price hikes.)

Martin said rising fuel costs have cut drivers’ and operators’ earnings by an estimated 30% to 40%.

Gasoline prices have risen for six straight weeks, while diesel and kerosene have posted increases for eight consecutive weeks.

Oil companies on Monday announced another round of adjustments: gasoline prices up by P1.20 per liter, and diesel and kerosene by P0.60 per liter.

The Department of Energy earlier projected upward adjustments, citing possible supply disruptions in the Strait of Hormuz and uncertainty surrounding nuclear negotiations involving Iran.—Mariel Celine Serquiña/MCG, GMA Integrated News